Australian parliament ratifies UK, India trade deals
Both deals need to be ratified by the British, Indian parliaments
22 November 2022
1 minute read
By: Australia's parliament on Tuesday ratified free trade deals with the United Kingdom and India, the latest development in a long-running attempt by Canberra to boost bilateral trade with the two countries, reported Reuters.
The deal with New Delhi, signed in a virtual ceremony in April, removes tariffs on more than 85% of Australian goods and exports to India, worth A$12.6 billion ($8.3 billion).
Australia's pact with London meanwhile, which hopes to open up sectors like agriculture and allow freer movement for service-sector professionals, was signed in December 2021.
At the time, former Prime Minister Scott Morrison, who was voted out of office in May, declared the deal, which removes tariffs on 99% of Australian goods worth A$9.2 billion, the most comprehensive with any country other than neighbour New Zealand.
Both deals still need to be ratified by the British and Indian parliaments to officially take effect.
